BUZZ-Citigroup and BofA raise PT on AppLovin, citing lower risks and strong growth potential
Citigroup and BofA have raised their price targets (PT) for AppLovindue to lower execution risks and strong growth potential. Citigroup increased its PT to $850 from $600, while BofA raised its PT to $860 from $580, anticipating AppLovin will become essential for eCommerce advertising by 2026. Currently, 21 of 26 brokerages rate the stock as "buy" or "higher," with a median PT of $620. The stock has risen 124% year-to-date.
Brokerages Citigroup and BofA raise PT on market platform AppLovin (APP.O) , citing increased forecast confidence and lower execution risk
Citigroup raises PT for APP to $850 from $600, on lower execution risk and performance being dependent on growing adoption of its platform in eCommerce sector
BofA raises PT for APP to $860 from $580 as they see the company becoming a must-have advertising channel for eCommerce brands by 2026, with strong upside potential and lower execution risk
21 of 26 brokerages rate the stock “buy” or “higher”, four “hold”, and one “sell”; their median PT is $620 - data compiled by LSEG
Stock up 124% YTD
